BB sells dollar in mkt to keep taka stable
Friday, 11 December 2009
FE Report
The central bank has intervened in the foreign exchange market through selling the US dollar to the commercial bank aiming to keep the market stable, officials said.
As part of the intervention, the Bangladesh Bank (BB) sold US$15 million at market directly to one state-owned commercial bank Thursday to meet the growing demand for the greenback.
"We've provided the foreign currency support to the banks to settle import payment bills for petroleum products and food grains," a BB senior official told the FE.
He also said the central bank continues its intervention in the inter-bank foreign exchange market by selling and buying US dollar directly from the banks to keep the market stable.
The BB's latest move came after depreciating Bangladesh taka (BDT) marginally by 0.20 per cent against the US dollar following a rise in demand for the greenback in the market.
The US dollar was traded at Tk 69.17- Tk 69.20 in the inter-bank foreign exchange market Thursday unchanged from the previous working day, treasury officials said.
The central bank will continue its foreign currency support to the commercial banks mainly for making payments of fuel oils, fertiliser and food grains import.
The central bank has intervened in the foreign exchange market through selling the US dollar to the commercial bank aiming to keep the market stable, officials said.
As part of the intervention, the Bangladesh Bank (BB) sold US$15 million at market directly to one state-owned commercial bank Thursday to meet the growing demand for the greenback.
"We've provided the foreign currency support to the banks to settle import payment bills for petroleum products and food grains," a BB senior official told the FE.
He also said the central bank continues its intervention in the inter-bank foreign exchange market by selling and buying US dollar directly from the banks to keep the market stable.
The BB's latest move came after depreciating Bangladesh taka (BDT) marginally by 0.20 per cent against the US dollar following a rise in demand for the greenback in the market.
The US dollar was traded at Tk 69.17- Tk 69.20 in the inter-bank foreign exchange market Thursday unchanged from the previous working day, treasury officials said.
The central bank will continue its foreign currency support to the commercial banks mainly for making payments of fuel oils, fertiliser and food grains import.